Chinese bike sharing unicorns are for real and can conquer the world

While much has been written about Chinese bike sharing companies and their meteoric growth in the last year in international press, a lot of observers remain skeptical about the long term sustainability and ability of these companies to turn a profit. Needing no introduction to residents of Shanghai and other big Chinese cities, which are blanketed by hundreds of thousands of colored bikes, current market leaders Mobike and Ofo have raised hundreds of million $, became unicorns in the process (Ofo officially, while market leader Mobike will surely become one with the next funding round), and set sights on world domination. All in less than a year.